Yes, she is complete trash. Armor reduction is great...assuming her team actually responds to her target, gl with that in non-organized play. Gap closing is awesome...if she could do anything noteworthy when she got there. Thing is, she can't. On her own she is no threat and can basically be ignored. Likewise, she has to be stealthed to make use of that stuff, same as always. Except, now, with stealth being a giant easily visible sign even in hectic battles, it's a lot easier to bring her out of it/avoid it.
Her "buffs" are basically at the cost of her damage(and stealth), which means, at best, you're giving up a totally viable damage dealer for a utility hero that MIGHT help your team do something, but likely won't.